Web3.0 protocol Helium Network (HNT) has announced its successful migration to the Solana (SOL) blockchain. The announcement was shared via the protocol's official Twitter account and highlights the strong desire to switch to a relatively more scalable outfit to help achieve its overall end goal.

Helium is branded as a decentralized blockchain-powered network for Internet of Things (IoT) devices. Helium's migration to Solana was planned for several months with collaborations from both the Helium and Solana teams, respectively.

"Helium's core developers are thrilled to announce the completion of the upgrade from the Helium blockchain to Solana. This upgrade establishes a new era of scalability, expansion, and reliability for the world’s largest decentralized wireless network," the announcement reads.

The Helium Network migration to @solana is complete! 🎉 🎈 This is an incredible milestone for the global Helium community and ushers in a new era for a highly scalable and resilient Helium Network along with a new world of utility on Solana.https://t.co/Ip8bVmKeLJ pic.twitter.com/SR5eMbchsS

— Helium🎈 (@helium) April 19, 2023

According to the Helium protocol, migration to Solana will offer additional utilities for the ecosystem, and this will be embodied by faster transaction times and lower costs. As one of the top Ethereum killers around today, the smart contract functionalities of Solana will also be well harnessed by innovators within the Helium Network.

The innovation that can follow the migration of Helium to Solana knows no bounds, and both teams are ready for the next stage in each protocol's evolution.

Off to good start

According to an update on the migration from the Solana Foundation, as many as one million hotspots have been connected to the Helium Network since inception, and based on the bandwidth of the Solana ecosystem, they are bound to see additional use cases that encompass the worlds of decentralized finance (DeFi) and non-fungible tokens (NFT).

One good headstart Solana is giving Helium users is the minting of connected hotspots as NFTs, a feature that guarantees additional recordkeeping that would otherwise be highly cost prohibitive on competing blockchains.

With the migration, Helium is now part of an ecosystem of thriving innovators that can generally help it return value to its community in the long term.

#helium #solana #Binance #hnt #Binance

The Helium (HNT) Network has officially completed its migration to the Solana (SOL) blockchain, marking a significant upgrade for the project's scalability and reliability. According to the CEO of the Helium Foundation, Abhay Kumar,

"Migrating the Helium Network to Solana offers significantly more utility for the network, including faster transaction speeds and new smart contract capabilities. And now that core developers will no longer have to maintain a layer-1 blockchain, the Helium Foundation and other contributing organizations can direct more resources towards our shared goals of accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide."

blog.helium.com

Helium focuses on building a network for the Internet of Things (IoT) powered by physical hotspots. The HNT token rewards participants for validating coverage and providing wireless hotspots. HNT is currently trading at $1.78, representing an 11% surge over the past seven days. On the other hand, SOL is trading at $21.96, down 5% over the past 24 hours and more than 11.5% over the past week.

The migration of Helium to Solana is expected to bring faster and more efficient transactions, benefiting both Helium and Solana in the future. With this significant milestone achieved, Helium is set to continue its focus on expanding its network and bringing new applications that enhance economic efficiencies and close the digital divide.

#hnt #helium #crypto2023 #dyor #CDD

Source: dailyhodl

image Source:

If you enjoy our content and want to show your support, please like, share, and follow us for more high-quality updates.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Helium (HNT) Network officially completed its much-publicized migration to the Solana (SOL) blockchain on Wednesday.

Abhay Kumar, the Helium Foundation’s chief executive, says the upgrade will help with the project’s scalability and reliability.

“Migrating the Helium Network to Solana offers significantly more utility for the network, including faster transaction speeds and new smart contract capabilities. And now that core developers will no longer have to maintain a layer-1 blockchain, the Helium Foundation and other contributing organizations can direct more resources towards our shared goals of accelerating the growth of decentralized wireless networks and bringing new applications that create economic efficiencies and close the digital divide.”

Helium focuses on building out a network for the internet of things (IOT) powered by physical hotspots. Helium allows IOT devices connected to the network to communicate and share data. The HNT token is used to reward participants for validating coverage and providing wireless hotspots.

HNT is trading at $1.78 at time of writing. The 162nd-ranked crypto asset by market cap is down 2.74% in the past 24 hours but up more than 11% in the past seven days.

SOL is trading at $21.96 at time of writing. The 11th-ranked crypto asset by market cap is down 5% in the past 24 hours and more than 11.5% in the past week.

#Binance #crypto2023 #solana #helium #BullRun

HNT price is consolidating and can soon witness a bullish breakout.

Current price of Helium is 97.5% lower than its all-time high.

Helium price has been consolidating for the past few weeks, and now can witness a bullish breakout. HNT price could witness a boom in ten days as the network is ten days away from launching on Solana mainnet. The Helium Mobile will be the world’s first crypto carrier on Solana.

🎉 1️⃣ 1️⃣ Only 11 days from launching on @solana mainnet and we couldn't be more excited for our friends at @helium_mobile who will be the world's first crypto-carrier on Solana. Going to Consensus in ATX? Join their event on April 27th. Registration is open. Link in thread👇 pic.twitter.com/SpgxYqSnUu

— Helium🎈 (@helium) April 7, 2023

The Monoscope

Source: HNT/USDT by TradingView

The HNT price forms a consolidation phase after falling for several trading sessions, and marked a new 52 week-low at $1.1643. The Bollinger Bands contract near the consolidating price suggesting a dormant market. The trading volume declines to suggest a deserted market, which can soon be flooded with potential buyers, running up to the launch of Solana mainnet.

HNT price can turn bullish once the resistance near $1.5330 is breached. The projected price rise can aim for $2.00. A horizontal OBV suggests a stagnant market which could soon produce an uptrend. The Commodity Channel Index (CCI) measures the difference between current prices and historical prices. CCI moved from negative toward 100, indicating a bullish trend for the coming days.

Source: HNT/USDT by TradingView

HNT price has been under bearish influence. The Super Trend shows the bears catching a breather as the indicator goes flat with the horizontal channel. The trend can soon turn bullish, as per previous bearish trend, which ended after a flat movement. The MACD forms a gradually widening divergence and records ascending buyer bars indicating steadily increasing buyer engagement. The RSI alo escalates from the floor range to suggest buyers gaining dominance slowly and steadily.

The Microscope

Source: HNT/USDT by TradingView

The Helium price action over the smaller time frame shows an extended consolidation phase, trying to breach the channel. The Super Trend indicates bulls trying to establish a trend but are facing residual bears, but soon can gain dominance over the market. The MACD forms a converging pattern, which reflects declining sellers as it records descending seller bars. The RSI rises from the half line mirroring rising buyer participation in the market. The positive RSI supports the prediction of a bull run in future.

Conclusion

HNT price is presently consolidating, moving sideways. The stagnant price can soon witness a bullish breakout. A bullish trend could be observed around the Solana launch. The price can reach $2.00 after breaching the resistance near $1.5330.

Technical levels

Support levels: $1.2185 and $1.1000

Resistance levels: $1.5330 and $1.9055

#HNT #helium #Binance #crypto2023 #crypto

Helium price surged by more than 22% on Friday as bulls rode the growing positivity across the altcoin market to hit highs of $1.96. The surge came as Ethereum crossed the $2,100 mark on Friday, 14 April, and days before network migration to Solana.

HNT price is up 43% this past week, outperforming related IoT coins

The price of Helium, which has been in consolidation around $1.44 over the past month, rose sharply beginning 12 April as the altcoin market reacted higher following Ethereum’s Shanghai upgrade. Increased market activity for Helium has seen over $5 million worth of HNT traded in the past 24 hours, with the tokens price up nearly 43% in the past week.

Indeed, according to data from CoinGecko, HNT has outperformed the global cryptocurrency market cap and the sub-sector of Internet of Things over the week.

While Helium price is seeing 40%+ in weekly gains, the global crypto market cap has only increased roughly 8%. On the other hand, the global IoT cryptocurrencies have increased an average of 6.8%.

Why is Helium price up today?

Well, Helium is just four days from its highly anticipated migration onto the Solana. The Helium-Solana migration is scheduled for 18 April 2023, and as crypto market intelligence firm Messari noted on Friday, Solana’s tech stack will help the decentralised wireless infrastructure blockchain platform migrate from its L1 to Solana.

Earlier this month, the Helium team said the move to the Solana would see HNT holders access “a world of DeFi, NFTs, smart contract capabilities, DAOs, and more.”

On Thursday, the Helium team announced the release of the migration app for Ledger hardware wallets.

The Helium-@Solana Migration App has been released for @Ledger hardware wallets! 📒 The instructions for migrating HNT on Ledger hardware wallets to the Solana derivation path are now available for testing on Devnet. Details and video here! 🧵 👇 https://t.co/KXF1VQ72rh

— Helium🎈 (@helium) April 13, 2023

Binance, the world’s largest cryptocurrency exchange by trading volume, announced support for the Helium migration this week. Binance.US cautioned that support for the network migration will see HNT withdrawals suspended at 8:00 pm on 16 April (and resume on 20 April).

And adding to the buy HNT pressure is the 3X veHNT bonus offered to holders who have their assets on the hardware wallets app for the first 10 or so days following the 18th April HNT move to mainnet Solana. This is likely behind the frenzy of activity for the token.

Also notable is today’s major breakout for Ethereum, and the resulting sentiment flip for altcoins. Speculation looks to have helped push HNT price higher.

Helium price outlook

Moves to mid-March prices of $2.5 will materialize if buyers break above the supply wall at $2.00.

However, with profit taking deals possible, HNT could also see a swift retreat to support levels around $1.70.

#HNT #helium #crypto2023 #crypto #Binance